Business

Best Small Business Insurance for LLC: Top Providers, Costs & Coverage Options

Colin Young

12.11.25

Read time 5 minutes

Starting an LLC is a smart way to protect your personal assets, but forming the company alone isn’t enough; you also need the right insurance. The best small business insurance for LLCs provides a safety net against risks like property damage, lawsuits, employee injuries or even cyberattacks. With so many policies available, it can feel overwhelming to choose the right coverage.

That’s why it’s important to understand which insurance types are essential for LLCs and how to compare providers so your business stays protected and financially secure as it grows.

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Best Small Business Insurance for LLC: What Coverage Do You Really Need?

When you form an LLC, your personal assets are protected, but your business is still exposed to risks. That’s why having the Best Small Business Insurance for LLCs is so important. At a minimum, you’ll want small business insurance like general liability, which covers third-party injuries, property damage and legal costs.¹

Depending on your industry, you may also need:
• Professional liability coverage
• Commercial auto insurance
• Cyber liability coverage

Many LLCs also add business owner’s policies (BOPs), which combine liability and property insurance into one affordable package. Even if you operate from home, standard homeowner’s policies typically don’t cover business risks, so insurance designed specifically for small businesses is essential.³

It’s imperative to evaluate the unique risks your LLC faces and compare policy options. You should build a custom coverage plan that keeps your business safe and compliant while giving you peace of mind.¹

Finding the Best Small Business Liability Insurance for Your Company

General liability insurance is often the foundation of coverage for entrepreneurs, and finding the best small business liability insurance can protect your company against its most common risks. This type of small business insurance covers accidents like customer slip-and-fall injuries, damage to someone else’s property or even legal defense costs if you’re sued.¹

If you’re operating under an LLC, this is particularly important, as lawsuits can quickly overwhelm a small business without adequate coverage.² The cost of liability insurance depends on factors like industry, location and revenue, but many small businesses find policies affordable when bundled with other coverage types in a business owner’s policy.³

We recommend shopping around for different providers that specialize in different industries, so comparing quotes confirms you’re getting the best fit for your business.⁴ Investing in liability coverage early can mean the difference between bouncing back from an accident and facing financial disaster as well.¹

How to Choose the Best Small Business Insurance Provider

Not all insurers are created equal, which is why selecting the best small business insurance provider matters as much as the policy itself. A good provider should offer flexible plans tailored to your industry, transparent pricing, and responsive claims support.¹ Some insurers focus on digital-first experiences for fast quotes, while others emphasize local agents who guide you through complex small business insurance needs.³

When you’re comparing providers, you should look for strong financial ratings, customer reviews and whether they offer bundled coverage options such as business owner’s policies.² For LLCs, it’s especially useful to choose a provider with expertise in insuring a small business, since needs are different from larger corporations.⁴ Remember, the cheapest policy isn’t always the best if claims handling is slow or exclusions leave you vulnerable. It’s essential to evaluate providers so you partner with a company that will stand by your business when challenges arise.⁵

Best LLC Insurance Options to Protect Your Assets

Hiscox

Hiscox is well-known for offering some of the best small business insurance for LLC owners.¹ Their policies include general liability, professional liability (errors and omissions), business owner’s policies (BOP) and cyber risk coverage. Many LLCs appreciate how they can get quotes online quickly and adjust coverage based on the exact services offered. For those looking for the best small business liability insurance, Hiscox is a good choice. Their liability offerings help shield against negligence claims, while general liability can handle third-party injuries or property damage.¹

NEXT Insurance

NEXT Insurance provides policies suitable for LLCs, while also covering general liability, business property and professional liability.² Policies can be obtained online as well, so business owners can select coverage levels appropriate for their needs.² This option can be used for LLCs exploring the best small business insurance providers or looking for the best LLC insurance while managing costs.² NEXT’s platform also supports businesses in managing liability related to client interactions and service errors.²

Chubb

Chubb provides commercial insurance for LLCs, including general liability, property, cyber and risk management solutions.³ Coverage can be tailored for LLCs with varying levels of exposure, ³ which makes it one option to consider when evaluating best small business insurance for LLC needs.³ Chubb’s policies may also help reduce gaps in small business insurance coverage, depending on the business type and risk profile.³

Allstate

Allstate is another trusted name when it comes to insuring a small business.⁴ They provide a comprehensive solution, including general liability, property, workers’ compensation and business interruption coverage. If you’re an LLC with employees or leased premises, Allstate is often considered among the best small business insurance providers because of its ability to bundle policies.⁴ Their large size also means reliable claims handling and long-term policy flexibility, which makes them a strong option for those comparing the best LLC insurance options in the U.S.⁴

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Average Cost of Small Business Insurance for LLCs

Costs can vary depending on your location, industry, and the level of coverage you need, the table below shows general price ranges for common policies from leading providers. These estimates are based on quotes for small LLCs with low to moderate risk profiles.⁵

Provider	Average Monthly Cost (USD)	Common Coverage Types Included
Hiscox	$35–$80¹	General Liability, Professional Liability, Cyber¹
NEXT Insurance	$25–$70²	General Liability, Business Property, Professional²
Chubb	$45–$120³	General Liability, Property, Cyber, Risk Management³
Allstate	$50–$130⁴	General Liability, Workers’ Compensation, Property, Interruption⁴

Open a Wise Business Account: Manage Your US Business Finances With Ease

Once you have established your business with an LLC, you’ll need a business account to manage your US finances. A Wise Business account is easy to open online and comes with no monthly fees. You can convert funds from your home currency to USD with low, transparent fees.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies. You can get major currency account details for a one-off fee to receive overseas payments like a local. You can also send money to countries.

Some key features of Wise Business include:
Major local account details to receive international payments with ease No monthly account fees just a simple one-off fee for account details Receive payments from e-commerce platforms such as Amazon or via Stripe. Create invoices using the Wise invoice generator or invoice templates. Accounting integrations, including a QuickBooks Bill Pay connection. Bill payments will be synced, matched, and categorized in QuickBooks for simple reconciliation. Access to BatchTransfer. Fast payment of up to 1,000 people.

Some key features of Wise Business include:

Major local account details to receive international payments with ease
No monthly account fees just a simple one-off fee for account details
Receive payments from e-commerce platforms such as Amazon or via Stripe.
Create invoices using the Wise invoice generator or invoice templates.
Accounting integrations, including a QuickBooks Bill Pay connection. Bill payments will be synced, matched, and categorized in QuickBooks for simple reconciliation.
Access to BatchTransfer. Fast payment of up to 1,000 people.

Open a Wise Business account online

Final Thoughts

Choosing the best small business insurance for an LLC can feel overwhelming, especially with so many options out there. The goal is simple: protect your business from unexpected risks while keeping operations running smoothly. Most LLCs start with general liability insurance, which covers things like property damage or third-party injuries, and then layer on additional coverage like professional liability or business property insurance, depending on what you do. Even using a comparison platform like Insureon can make it easier to weigh options and find coverage that matches your LLC’s needs.⁴ So what you should take from this article is this: Picking the right policy is really about matching protection to your risks, not just the price.

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